According to the annual report published on the WSE, the Kernel agricultural holding reduced its capital investments in the 2025 financial year by almost half — to $73 million compared to $143 million a year earlier.
According to Andriy Verevsky, 2025F was one of the most difficult periods: due to poor harvests and reduced stocks, farmers held back their products in anticipation of price increases.
“The EBITDA margin fell from $121 to $66 per tonne as a result of aggressive behaviour by producers who speculated on future prices,” he said.
Kernel is Ukraine’s largest exporter of agricultural products, controlling about 10% of the global sunflower oil market and 27% of Ukrainian exports. Its main assets are terminals in the Black Sea basin, oilseed processing plants, and a logistics network across the country.
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